ARTICLE 3. Time Warrants

Article 3 added by Stats. 1951, Ch. 336.

§§ 53040–53049 · 11 sections

• § 53040 When the board has filed an operation and maintenance assessment roll in the office of the county treasurer, and has directed an assessment levied against that…
• § 53041 Time warrants may be in substantially the following form: Face No. ________ $________ Office of the Board of Trustees of Reclamation District No. ____. ______,…
• § 53042 The time warrants which may be issued to mature in any year shall not exceed the amount of the assessment installment payable in such year, and the principal…
• § 53042.5 Time warrants may be issued for more than the amount set forth in Section 53042 and with a maturity longer than five years, provided that a special election is…
• § 53043 No time warrants shall be issued, sold, or disposed of for less than the face amount thereof and accrued interest thereon to date of delivery.
• § 53044 The proceeds from the issuance and sale of time warrants shall be deposited in the maintenance fund and shall be applicable to the payment of the expenses…
• § 53045 Time warrants shall be registered with the county treasurer prior to their issuance.
• § 53046 Time warrants shall be paid upon their due date upon presentation and surrender to the county treasurer.
• § 53047 If time warrants are not paid by reason of lack of funds, no further registration is required, and they shall continue to bear interest after their due date…
• § 53048 Time warrants which are not paid on their due date because of lack of funds have priority and shall be paid out of the proceeds of the collection of the…
• § 53049 The county treasurer, upon the request of the board, shall pay all time warrants before the maturity thereof, providing there are sufficient funds, after…